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Acura TSX Lease Questions

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Comments

  • roubaudroubaud Posts: 39
    We are just now in the same boat! We have tons of equity in our 2010 and I refuse to hand that over to the dealer (we clearly are paying too much on our lease compared to you--it was my first lease and even though I visited here often, I learned the hard way the last three years and lost thousands).

    What I plan to do is talk to our bank about a loan, since Acura Financial does not do third party transfers / sales. I want to line up a buyer myself, buy the car, and sell it (all in a day or two), and hope the bank can help us do this with a temp loan or something. If that doesn't work, we'll see what Acura dealers might offer us for the car. Even if we had to have a loan for a small time to find a buyer, paying any early loan payoff fees (if they exist) would be worth it for what looks like $6,000-8,000 in cash we could get.

    The issue comes with state taxes. If you have to buy the car to sell it, I have to pay state sales tax--but if I sell it real fast, I can apply for a refund on the unused tax portion. States differ--some allow you a 10 day grace period to pay tax, which give you 10 days to sell it free of charge.
  • biker4biker4 Posts: 746
    A lot of this depends on where you are. There's no way any informed consumer would ever pay $29K for a two year old used car when they can get a brand new one for virtually the same price. And private sales and dealer prices differ by at least 2-3K. In the DC area that car would sell for maybe 24K private party and maybe 27K at a dealer (regardless of what the asking price is).

    My suggestion would be to buy the car if you like it. If not, turn it in, move on and not worry about what the dealer would make on it.
  • roubaudroubaud Posts: 39
    Of course no one would pay $29k for a $32k car when it's 3 years used. But I bet they might pay $26-27k for those low miles. So if it were me, I'd still try to sell it. Like I said I'm doing the same thing, and if I can't sell it myself, I'll trade it in to the dealer and make less--but I'll still make a few grand on the latter. I think the advice to just let the dealer have it is crazy. Either buy it and run it into the ground or buy it and sell it / trade it in. I'm starting down that road today.
  • xasthurxasthur Posts: 5
    edited June 2012
    First time leasing in Long Island interested in 2012 TSX. Got an offer for $259/mo for 36 months 12,000 miles/yr. They are asking for $3000 down which includes inception(tax and other fees). Is that a good deal?
  • I think. It's ok deal. I just lease mind on5/13/12.
    15 K a year. 36 months.
    Down $1287 including first month.
    295 + tax for 35 payment.
    You can ask to lower the down if you have an excellent credit.
    Good Luck.
  • xasthurxasthur Posts: 5
    So I go back 2 days later to sign papers and the dealer says the sticker price went up 500 bucks so now its 279/mo with 3400 down. Because the car is made after May its more so he offered me the same deal as original on a different color he had in stock. What a tool.
  • sergeymsergeym Posts: 262
    What a BS. They trying to move an unpopular color and insult your intelligence at the same time. Let's say the sticker went up $500. The residaul value is probably around 60%. Maximum they may want from you additionally is $200 (40%) / 36 = $5.55. They asking you to pay $400 + $20 per 36 month = $1,120. When thay happen to me such things make me really mad and I usually walk away.
  • roubaudroubaud Posts: 39
    I hope you walked. They don't want to sell a car. Plenty of dealers who do.
  • I agree. I hope u walk. Call around u will get a better. Good Luck.
  • xasthurxasthur Posts: 5
    I walked out and got a different offer from another dealer not as good. It was $275/mo 12k miles over 3 years. Total out of pocket $3400 (tax,1st mo and fees). Thats the best I could get out. What do you think?
  • I am in Southern Callifornia so they are a plenty dealer want to sell their car however everytime I go in. They always try to convince me that this is the best they can do...
    If you are not hurry to go a car, just wait and call all the dealer around your area. You will get what you want.
    In my case I got the quote from DCH in Tustin. He gave me $1,287 Due at signing and $299 a month (35 payments) for 15K a year for 36 months. They have the color I want but the not black interior. Saleman told me to get my second choice. He said I must go in by tomorrow to get that dea So I never call him back. Then I checked the stock online and call the dealer that I have the exactly one I want. I called them and said This is the quote I have and If you can do better. I would lease one right now. They called me back within 10 mins. I got the car the next morning. Love the car.
    As I list before Here is what I got.
    $1,287 Due at signing and $295 a month + tax (35 payments) for 15K a year for 36 months.
  • xasthurxasthur Posts: 5
    edited June 2012
    thanks teddybear11...I went ahead and signed the papers since I need a second car now. I might be trading in my old car for the TL since they are running an aggressive offer with acura loyalty program and other incentives. The only thing I dont like about the TL is that it failed front head on collision and the trunk is too small. Might just wait little longer till the ford fusion 2013 comes out.
  • art112art112 Posts: 11
    Hi:

    I went to DCH today. Mr. personality would not give me anything special. I know they are running a special on the TSX because it is getting phased out wiht the arrival of the ILX. They told me $2000.00 down and $295.00 per month for 36 months for the model without Navigation. Net Cap cost (true cost) is about $30,000.00. On the one with the Navigation he told me $2000.00 down with $345.00 per month. The residual is $18,200.00 on both cars. To top it off, this was on the 10K miles per year. He flat out told me if I want a better deal, I can go somewhere else, but the Brea dealership offered me the same thing.

    Can i ask Teddybear what the net cap cost, money factor, residual is on that car?

    Any advice or contact name is appreciated.
  • star123star123 Posts: 2
    I'm looking to lease for the first time and never purchased a car or dealt with a dealer before, so desperately need advice.
    Went to an Acura dealer in NY on Saturday looking to lease a 2012 TSX (open to base or tech package, but leaning towards tech package).
    My salesman was fairly friendly, very blunt and to-the-point, no BS and not pushy, which I couldn't decide was a good or bad thing (expecting to be buttered up a bit more).
    He downplayed the value of the tech package saying it was mostly a built in GPS and better stereo (maybe thinking it would be easier to close me on the base).

    Bottom, line, here's the deal I was given off the bat (no negotiating on my part):
    -$299/month for base, $349/month for tech package - I believe 10k miles per year but need to verify
    -$1,000 down
    -$495 GAP insurance fee
    -$995 tax
    Total $2490

    This seems like a reasonable deal to me, but I'm not sure if/where I have room to negotiate. After speaking with many people, they tell the GAP insurance is BS and to reject it. But after doing research, it seems it is standard or REQUIRED on leases with Acura in NY:

    GAP (Guaranteed Asset Protection)
    Although you may intend to keep a vehicle for the full term of a lease, an accident or theft could cause early termination. Most auto insurance policies pay the average market value of the vehicle, which may be considerably less than the remaining lease obligation. Leases from Acura Financial Services™ include GAP protection to cover this difference in the event of such a loss.
    Vehicles financed with a retail installment contract from Acura Financial Services™ do not include GAP coverage, except in the state of New York. Clients financing vehicles outside New York state may be able to purchase GAP coverage from their dealer.


    So I'm not sure if this is a negotiable item? If it's "included" should I be paying $495 for it?

    I can't just jump into the lease with exactly what I've been quoted, but not sure what terms I have to negotiate with. The GAP charge was presented to me as required and may be based on my research online, but I'm not sure.

    Any insight is appreciated!
  • robtroxelrobtroxel Posts: 103
    edited June 2012
    Gap insurance is included in all Honda/Acura leases. If the dealer is not using H/A finance >>step away quickly. He is misleading you! H/A finance also includes a $1500 waiver of any damage at lease end. You should go for at least 12,000 miles a year. Good luck!
  • Sorry for late reply. Hopefully this info is still helpful.
    I got my car from Riverside CA. Ask for the saleman that look like Michael Douglas. He is very helpful and Honest.
    2012 Base TSX
    Base payment $295+ tax 36 months
    Residual amount $17,189.20
    Money factor .00046
    Mileage program 15,000
    Due at signing $1,287.00
  • It's true that Gap insurance is included in Acura Lease. No fee.
    Please run away from this saleman. Good luck.
  • sergeymsergeym Posts: 262
    Yes, tech package is just Navi + ELS surround sound system + backup camera, and yes it is greatly overpriced at $50 per month but this is what Acura has been doing with its navi equipped cars for a while already.
    Nevertheless deals you were offered are not that bad if they include everything (tax, MV, Doc fees) and are for 12K miles per year.

    I would offered them either $340 per month for the base model or $390 per month for Tech with EVERYTHING included. Bottom line - 36 payments of $340 or $390 per month, not a single penny more.
  • mokiavellimokiavelli Posts: 47
    Art,

    Try Mission Viejo. They offered me a base TSX for under $27.5k last week. So, you add the acquisition cost of $595, it brings a cap cost of about $28.2k before any money down.

    Remember the nationally advertised offer is $2k down and $299/mo on a 10k mile lease. The net cap is $28.2k, after the $2k drive off. If you take the price I mentioned above, you should be getting about the same payments (maybe $15/mo more for 15k mi/yr) without the down payment.
  • marts230marts230 Posts: 1
    I just leased a new 2012 tsx with technology, picked it up last week go to wheels to lease they are on McDonald Avenue, in Brooklyn, my wife will only go there after the dealer run around, or just call and ask for moshe, they are closed on Saturdays, open part of the day on Sunday, so easy and great prices, I did not pay a cap reduction, my price including taxes is $380, they handle the registration or transfer etc, ( they have a large operation and will not vanish, they move more cars in a week then most dealers move in a month
  • sergeymsergeym Posts: 262
    "Wheels to lease" is a broker, not a new car dealer. It does not matter at all if they stay in business or vanish. Whatever happens to them you still will have Acura warranty and service.
    $380 per month for TSX tech is a great price if it includes everything (MV, doc and so on) and is for 12K miles per year, still good for 10K miles.
  • sergeymsergeym Posts: 262
    edited June 2012
    I would suggest opening a separate thread for ILX.
  • kyfdxkyfdx Posts: 30,476

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • chuckjrchuckjr Posts: 61
    Jeff,
    Your post is a month old but here's how i cashed out the equity on my 09 TL - take it to car max. In southern california the used car market is rough because of competition and having to deal with the hassles. Car max gave me a fair price, paid off my lease and gave me a check for $1800. done deal. No title paperwork, bridge loans. I'd suggest giving them a shot.
  • chuckjrchuckjr Posts: 61
    car man
    What is the residual and money factor on a TSX wagon for 36 mos? Base and tech w 12k miles

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chuckjr. Through July 9th, Acura's buy rate lease money factor and residual value for a 36-month lease of a base 2012 TSX Wagon with 12,000 miles per year are .00046 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor for a version of this car equipped with Tech would be the same, but the residual value would drop to 56%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • roubaudroubaud Posts: 39
    That's really cool. I was just thinking about them if we can't sell our car privately. We do own it now, and have a sorta bridge loan. Want to sell before first payment is due. Will see what Acura will do on trade in and maybe Car Max.
  • chuckjrchuckjr Posts: 61
    My suggestion is go to car max first. They will give you an offer good for 7 days. then take that info to acura and make sure they match or beat it
  • Hi Car Man,

    Do you have the August residual and money factor for a base TSX on a 36 month, 15,000 mile lease?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do drock519. Acura's August buy rate lease money factor and residual value for a 36-month lease of a base 2012 TSX with 15,000 miles per year are .00038 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    When negotiating your deal on this car, shoot for a selling price that's as close to dealer invoice minus the $500 available dealer cash as possible.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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